Barwa Real Estate Company Q.P.S.C. (BRES) Earnings Call Transcript & Summary

Hello, everyone, and thank you for attending the Barwa Real Estate conference call. Please note that this call is being recorded. I'd now like to hand the call over to Dana for opening discussion.

Hello, everyone, and [Foreign Language] to you all. This is Dana Al Sowaidi from QNB Financial Services. I would like to welcome everyone to Barwa Real Estate Company's Third Quarter 2025 Financial Results Conference Call. On this call from management, we have Tamer Elsayed, Group CFO. We will conduct this conference call with management first reviewing the company's results followed by a Q&A session. I will turn the call now over to Tamer. Please go ahead.

Thank you, Dana. [Foreign Language]. Good day, everyone, and a warm welcome to Barwa Real Estate Q3 2025 Post Results Conference Call. I'm Tamer Elsayed, Group Chief Financial Officer, and I am joined by our team to share our performance and outlook. First, I would like to express our gratitude to QNB Financial Services for hosting this call on behalf of Barwa Real Estate. Before we begin, a brief note on forward-looking statements. Except for historical facts and projections, expectations shared today regarding future events or financial performance are forward-looking. These statements are based on current assumptions and are subject to risks and uncertainties. Barwa undertakes no obligation to update or revise them based on new information or future developments. Barwa Real Estate announced its Q3 financial results on October 26. The financial statements and the investor presentation are available in the Investor Relations section of our website. For those new to Barwa, we are one of Qatar's leading real estate developers, specializing in developing, leasing and managing a diverse portfolio of assets. Our operational portfolio spans approximately 5.6 million square meters of built-up area, including 14,221 residential units in addition to 54,646 labor accommodations. Also, we have warehouses, retail showrooms, offices and hospitality properties. These assets generate roughly 80% of our operating revenue and about 92% of our operating profits as detailed in our investor presentation. Additionally, Barwa holds a strategic land bank of approximately 1.9 million square meters with 1.84 million square meters in Qatar. Of this, we own about 847,000 square meters with the remainder under lease. Moving forward, we plan to selectively monetize this land bank through sales or development guided by market demand. Now let's review our Q3 performance highlights. Revenue. Total operating revenue reached QAR 1.369 billion compared to QAR 1.368 billion in Q3 2024. For operating profit, we achieved QAR 944 million compared to QAR 934 million in Q3 2024. For the profit attributable to the shareholders of the parent, we reached QAR 788 million, slightly up from QAR 784 million in Q3 2024. For our balance sheet, our financial position remains strong with net debt at QAR 10.97 billion, resulting in a net debt-to-equity ratio of 0.49. This robust liquidity and balance sheet strength position us well to pursue our growth strategy. We are also actively refinancing selected facilities to optimize liquidity and cash flow projections. With that overview, we are ready to address your questions. Thank you for joining us. And I'll now hand over to the moderator from QNB Financial Services to facilitate the question-and-answer session.

[Operator Instructions] As of right now, there are no raised hands. I'm going to hand the call back to Dana for final remarks.

If there are no questions, we would like to thank the company's management for the results update and for -- and we look forward to speaking to you all for the fourth quarter results.

Thank you for attending today's call. Have a good day.

Thank you, everyone. Have a good day. Bye-bye.